QuantumScape (NYSE:QS) Stock Price Up 1.6% – Here’s What Happened

QuantumScape Co. (NYSE:QS)’s share price was up 1.6% during trading on Monday . The company traded as high as $5.26 and last traded at $5.20. Approximately 2,494,187 shares changed hands during trading, a decline of 71% from the average daily volume of 8,696,692 shares. The stock had previously closed at $5.12.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on QS shares. Wolfe Research started coverage on QuantumScape in a research note on Thursday, September 5th. They set an “underperform” rating for the company. Truist Financial reaffirmed a “hold” rating and issued a $7.00 price objective (up from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $6.00 price objective on shares of QuantumScape in a research note on Tuesday, September 10th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $6.14.

QuantumScape Trading Down 0.2 %

The company has a 50 day moving average of $5.63 and a two-hundred day moving average of $5.79. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.66 and a current ratio of 14.07. The stock has a market capitalization of $2.62 billion, a PE ratio of -5.47 and a beta of 4.60.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same period in the previous year, the firm posted ($0.23) earnings per share. Sell-side analysts predict that QuantumScape Co. will post -0.97 EPS for the current year.

Insider Buying and Selling

In related news, CFO Kevin Hettrich sold 34,607 shares of the business’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $5.49, for a total transaction of $189,992.43. Following the transaction, the chief financial officer now directly owns 1,073,022 shares in the company, valued at $5,890,890.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of QuantumScape stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $5.49, for a total transaction of $189,992.43. Following the completion of the sale, the chief financial officer now owns 1,073,022 shares of the company’s stock, valued at approximately $5,890,890.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Timothy Holme sold 44,306 shares of QuantumScape stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $6.11, for a total value of $270,709.66. Following the sale, the chief technology officer now directly owns 1,168,496 shares of the company’s stock, valued at approximately $7,139,510.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 903,591 shares of company stock worth $5,195,582 in the last ninety days. 12.03% of the stock is owned by insiders.

Hedge Funds Weigh In On QuantumScape

Several institutional investors and hedge funds have recently modified their holdings of QS. Signaturefd LLC increased its stake in QuantumScape by 79.9% during the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after buying an additional 2,148 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of QuantumScape by 475.1% in the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock valued at $29,000 after purchasing an additional 4,228 shares in the last quarter. CWM LLC grew its position in shares of QuantumScape by 56.0% in the second quarter. CWM LLC now owns 7,124 shares of the company’s stock valued at $35,000 after purchasing an additional 2,556 shares in the last quarter. Mather Group LLC. purchased a new stake in shares of QuantumScape in the second quarter valued at approximately $36,000. Finally, Alaska Wealth Advisors acquired a new position in QuantumScape in the second quarter valued at approximately $49,000. Hedge funds and other institutional investors own 29.87% of the company’s stock.

About QuantumScape

QuantumScape Corporation, a research and development stage company, focuses on the development and commercialization of solid-state lithium-metal batteries for electric vehicles and other applications. The company was founded in 2010 and is headquartered in San Jose, California.